AstraZeneca has today beaten first-quarter profit expectations and maintained its 2026 forecasts, supported by strong demand for its cancer and rare-disease drugs and investments in the key US and China markets.
CEO Pascal Soriot is steering the European drugmaker toward its $80 billion annual revenue target for 2030, deepening its US and China presence while navigating complex geopolitics and industry change.
The company remains "on track to achieve our ambition for 2030 and beyond," Soriot said, adding the firm was investing in its commercial operations and preparing multiple drug launches to offset pricing pressure and patent losses.
If approved by US regulators, AstraZeneca expects to launch this year baxdrostat for high blood pressure, camizestrant for a type of breast cancer and gefurulimab for a chronic autoimmune disease, as it targets 20 launches by 2030.
Analysts forecast 2030 sales of $80 billion, according to LSEG data, with 2026 sales growth of 7.2% and profit growth of 11.2%, after similar gains in 2025.
The drugmaker maintained expectations for low double-digit percentage growth in core earnings at constant currencies in 2026, and mid-to-high single-digit revenue growth.
AstraZeneca has expanded aggressively over the past year, striking a $50 billion US manufacturing deal, securing an NYSE listing, winning US tariff relief via a drug pricing agreement, committing $15 billion in Chinese investments and expanding cell-therapy capacity in China.
Drugmakers are grappling with the US 'most-favoured-nation' policy, which pegs American medicine prices to lower ones abroad, including Europe. This is prompting companies to seek higher prices overseas or to delay launches, analysts and executives say.
Soriot last week warned that Europe could become a mere "sales office" for the industry as it falls further behind the US and China in life sciences competitiveness.
For the first quarter ended March 31, revenue rose 8% to $15.29 billion, while core earnings were $2.58 per share, beating expectations for $14.9 billion and $2.54, respectively, in a company consensus.
Sales from AstraZeneca's oncology division rose 16%, while its rare disease unit logged sales growth of 15%. US revenue grew 10%, while China sales grew 2%.
Shares in AstraZeneca, whose stock is flat this year, were down 1% this morning.
eToro analyst Adam Vettese said the stock's "muted" reaction suggests investors had priced in the company's momentum.
